Amb. Girma hails Wafa’s effort to promote investment opportunities in Ethiopia

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Addis Ababa, 23 December  2013 (WIC) – Special Envoy, Ambassador Extraordinary and Plenipotentiary of Ethiopia to the US, Girma Birru, hailed efforts of Wafa Marketing and Promotion PLC to promote investment opportunities in  Ethiopia.
The ambassador made the remark at the 3rd Ethio-USA Trade and Investment Forum held in Chicago City, USA, from October 8-13/2013 parallel to the 9th US-Africa Trade and Investment forum.
Various high ranking Ethiopian government officials and over 70 Ethiopians from the agriculture, export trade, tourism, floriculture, fruit export and tour operation sectors took part at the forum.
The forum, aimed at attracting foreign direct investment (FDI) into Ethiopia was organized by Wafa Marketing and Promotion PLC in partnership with the Ethiopian Ministry of Foreign Affairs and Corporate Council on Africa (CCA), among others.
“Wafa Marketing and Promotion PLC has been making continued efforts to promote the investment opportunities available in Ethiopia, thus contributing its share to attract FDI into the country,” ambassador Girma said.
In addition to promoting Ethiopia’s investment potential, the Company has been building the positive image of the country, he pointed out.
Ethiopia, the second most populous country in Africa next to Nigeria and the fourth largest economy in sub-Saharan Africa, is attracting foreign companies, he said.
“The conducive business environment coupled with a wide range of incentives put in place by the government is attracting increased foreign investment in Ethiopia,” ambassador Girma said.
Many foreign companies, including from the US are eyeing Ethiopia for investment, he said citing the agreement signed between Ethiopia and US-Icelandic Company to invest 4 bln US dollars for 1,000MW geothermal energy.
The new agreement is part of the US Presidential Initiative to double electricity access in sub-Saharan Africa, called Power Africa, according to the ambassador.
Ethiopia has immense renewable energy potential, including wind, solar, geothermal and hydropower resources, which are yet to be exploited, he said, calling on investors to explore these opportunities.
Wafa Marketing and Promotion PLC organized similar forums 3 times in USA and once in India, London, Italy, Moscow and Japan, it was learnt.

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